Best file system format for external hard drive?

When I attach a Mac OS Extended formatted 1.5TB external Seagate HD to my WDTV Live, things are quite slow. Would I be better off if the disk was formatted in NTFS or even FAT32? How does the file system affect the speed in which the WDTV reads the disk?

The file system type has no bearing on READ performance, so I wouldn’t worry about it.  (it only MARGINALLY affects WRITE performance, but that’s academic. )

FAT32 filesize is limited to 4GB, so I wouldn’t use that.

Cocovanna